Master of Finance
Program Details
Degree
Master of ScienceDepartment
School of Business Graduate ProgramAvailable
On Campus & OnlineTraditional finance jobs are disappearing as digital currencies, automated investing, mobile banking, and high-frequency trading require leaders to bring a new set of technology skills to decision making. The STEM-designated* Finance Master's Program prepares you to be this leader.
*A STEM-designated program allows students from outside of the U.S. to be eligible for a 24-month extension of their Optional Practical Training (OPT).
Capstone experience
No graduate business education is complete without an opportunity to apply what you've learned on a project of consequence. At Stevens, that takes many forms — a consulting assignment with an industry partner, a research project that addresses an industry need, even the chance to nurture your own entrepreneurial venture — and is customized for you, your education and your career aspirations.
Master of Finance Specializations
A unique feature of this degree is the ability to customize the curriculum to best suit your career interests. Students can select from the concentrations below or, if desired, select four elective courses in any areas of their choosing, such as management science, financial engineering, mathematics, statistics and computer science.
Investment Banking and Valuation
The STEM-designated* Finance master’s program reflects the unique blend of technology, analytics and data skills required of professionals in this field, to confront the challenges of today and to better understand the business opportunities of tomorrow.
As a result of this careful curricular design, several important organizations — the CFP Board, CFA Institute and the Global Association of Risk Professionals — have recognized the Stevens master’s in Finance as providing unique value to students who complete these programs.
In addition to its curricular design, the Finance program remains relevant through its Hoboken location, putting the campus a 10-minute train or ferry ride from Wall Street.
*A STEM-designated program allows students from outside of the U.S. to be eligible for a 24-month extension of their Optional Practical Training (OPT).
Finance Curriculum
MGT 506 Managerial Economics
This course introduces managers to the essence of business economics — the theories, concepts and ideas that form the economist’s tool kit. Microeconomic topics include demand and supply, elasticity, consumer choice, production, cost, profit maximization, market structure, and game theory; macroeconomic topics will be GDP, inflation, unemployment, aggregate demand, aggregate supply, and fiscal and monetary policies. In addition, basic concepts in international trade and finance will be discussed.
MGT 700 Econometrics
An introduction to the science of designing statistical models of economic processes. Students will be required to build and estimate a number of models during the term. Topics include regression theory, statistical difficulties in regression analysis, advanced topics in single-equation regression, models of qualitative choice and simultaneous equation estimation. Prerequisites: MGT 503
FIN 629 Fixed Income Analysis
This course addresses money flows and the cost of credit for major money market institutions, including banks, bank holding companies and the “shadow banking” system. It entails a broad survey of the structure and financial condition of the banking industry. The course provides a theoretical and practical understanding of why these markets exist and who the key players are, how the markets work, the rules governing their operation, and how they are evolving. We will spend considerable time in discussing regulation of the financial markets and financial services industry.
FIN 627 Investment Management
This course takes a practical approach to managing investments. It covers a wide variety of investment vehicles, from pure equity and debt offerings to complex derivatives and options. Various investment strategies are presented which are focused on the different fundamental approaches and tactics used by leading investors to achieve their financial goals. The course also focuses on investment styles, including momentum, growth, income, distressed, asset allocation and vulture investing. Students participate in real-time simulation experiences to create viable portfolios of stocks, bonds and other investments, tracking their performance against the overall market and the class on a weekly basis.
FIN 638 Corporate Finance
This course serves as a second semester sequence in corporate finance. Among the topics covered are: leverage on the balance sheet and weighted average cost of capital; bankruptcy, turnarounds, and recapitalizations; international currency hedging; stock options; private equity valuation; mergers and acquisitions; and the issuance of public and private securities.
FIN 510 Financial Statement Analysis
This course deals with interpretation of financial statements, evaluation of the alignment between business strategies and financial performance, identification of potential business risks, and comparison of the performance of different companies. The course introduces business analysis and valuation techniques and uses real data to help students comprehend financial statement analysis tools.
FIN 628 Derivatives
This course covers the fundamentals of financial derivatives, including the basic properties and pricing of futures, options and swaps. It also explores trading and hedging strategies involving financial derivatives. Special topics, such as exotic options and credit derivatives, are explored. The course provides the foundation of financial derivatives and lays the ground for a rigorous risk management course and other advanced quantitative courses, such as stochastic finance.
FE 511 Introduction to Bloomberg and Thomson Reuters
The focus of this course will be on equity, futures, FX, options, swaps, CDSs, interest rate swaps and so on. As part of the course, students become Bloomberg certified. The course also covers the Thomson Reuters Tick History data.
FE 515 Introduction to R
Upon completion of this course, students will understand the programming syntax of R, and should be able to use it in future courses.
Upon completion of this course, students will understand the programming syntax of R, and should be able to use it in future courses.
FE 517 SAS for Finance
This course teaches the basics of SAS programming using financial data and applications. The course provides an introduction to programming, graphics and data analysis using SAS software. The course concentrates on fundamental components of SAS: data processing; managing SAS libraries; graphical and statistical procedures; and creating, formatting and exporting reports.
FE 520 Introduction to Python for Financial Applications
This course covers the basis syntax rules, modules, importing packages, data visualization and introduction to machine learning on Python. Upon completion of this course, students will be able to complete a simple project with Python.
Foundational courses are intended for students who do not have training or prior coursework in accounting, finance and statistics. Students who have passed the CFA level 1 exam are exempt; students who have not passed the exam will work with their advisor to determine which courses they may waive. A course in business writing and communication also is required. This can be fulfilled through a MOOC.
FIN 500 Financial and Managerial Accounting
This course will develop accounting analysis useful for managerial decision-making purposes. Topics will include an introduction to elements of financial accounting, cost-profit-volume analysis, manufacturing costs and elements of cost accounting, special decision analysis, budgeting, variances, and controllability and responsibility accounting.
FIN 523 Financial Management
This course covers the fundamental principles of finance. The primary concepts covered include the time value of money, principles of valuation and risk. Specific applications include the valuation of debt and equity securities as well as capital budgeting analysis, financial manager’s functions, liquidity vs. profitability, financial planning, capital budgeting, management of long term funds, money and capital markets, debt and equity, management of assets, cash and accounts receivable, inventory and fixed assets.
MGT 506 Economics for Managers
This course introduces managers to the essence of business economics – the theories, concepts and ideas that form the economist’s tool kit encompassing both the microeconomic and macroeconomic environments. Microeconomic topics include demand and supply, elasticity, consumer choice, production, cost, profit maximization, market structure, and game theory while the Macroeconomic topics will be GDP, inflation, unemployment, aggregate demand, aggregate supply, fiscal and monetary policies. In addition the basic concepts in international trade and finance will be discussed.